In a research report published earlier today by Gabelli, Frontier Communications FTR reportered stronger-than-expected 4Q revenues.
Gabelli said in the report, “FTR reported stronger than expected revenues and EBITDA, with yoy revenue decline improving meaningfully from 3Q'11 trend (i.e. -5.6% vs. -8%), largely due to growth in business revenue (+0.8% yoy/+0.2% seq), helped by greater effectiveness of new salesforce hired in former Verizon markets. However, operating metrics were slightly worse than expected.”
Gabelli maintains its Hold rating and $6.00 PMV on Frontier, which closed Friday at $4.78.
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